Tuesday, September 17, 2013

GST Bill to be tabled in winter session: Mr J.D. Seelam

The Federation of Andhra Pradesh Chambers of Commerce
and Industry (FAPCCI) organized an interactive meeting with Trade and Industry
delegates with Mr J.D. Seelam, Hon’ble Union Minister of State for Finance
(Revenue), Govt. of India on September 11, 2013 at Federation House, Red Hills,
Hyderabad.

A Bill for introduction of Goods and
Services Tax (GST) would be tabled in the Parliament during the winter session,
Union Minister of State for Finance, J.D. Seelam said here on Wednesday.

The Parliamentary Standing Committee on Finance had
submitted its report and a sub-committee in the Finance Ministry had been
appointed to examine it, he told reporters on the sidelines of a meeting with
the members of FAPCCI.

Replying to a question, he expressed
confidence of achieving the disinvestment target of Rs.40,000 crore this year.
“We have to take follow-up action. Apprehensions need to be removed. We are
confident of getting Rs.40,000 crore”, he added.

On tax collection, he said the trend improved in the
second quarter and asserted that the target would be achieved. He indicated
that there would be curbs on the imports of some non-essential items in a bid
to control Current Account Deficit (CAD).

Earlier, he assured to take up with
the Union Finance Minister and RBI the demand of FAPCCI to provide relief to
the industry in Andhra Pradesh with regard to staggered payment of loans.

Addressing FAPCCI members, Mr.
Seelam said the aim of the government was to make tax collection a pleasant
job. The departments collecting tax would act like facilitators and not
regulators. He, however, rejected the demand to go slow on tax collection
because of the difficulties facing the industry in the State and said the
collected amount was being ploughed back for welfare and developmental schemes.
He said the government was also thinking up of opening up more areas for
Foreign Direct Investment (FDI) as part of reducing CAD. Also there was a need to
increase exports and reduce imports.

The minister said that although 13 crore to 14 crore
people were having PAN cards, only 3.5 crore were paying taxes. Pointing to the
need to expand the tax base, he said it could go up to seven crore.